Lion Real Estate Group (LREG) has sold 3317 Exposition Place in Los Angeles to Luzzatto Co. for $22.52 million.
Located in Los Angeles’ West Adams District and close to Metro Rail’s Expo/Crenshaw station, 3317 Exposition Place is a two-story, dual-building site comprised of 29,759 square feet. The property has been occupied by current tenant and luxury online retailer TheRealReal since May 2019.
“Our decision to sell 3317 Exposition Place was due to our firm’s focus on investing in value-add multifamily assets across the United States in high-growth markets,” said Mory Barak, co-founder and managing principal of LREG.
The transaction marks another significant return on LREG’s previous office investments, as the firm frees up capital to deploy into its preferred core strategy.
“We are actively looking to acquire multifamily properties in areas with favorable economic growth projections that are relatively close to urban centers and provide co
